UK Used Car Industry Future Outlook

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Emergence of Multi-brand showrooms, Product Innovation & New Business Models are some of the new trends in the UK Used Car market

Social Media Dominance: The UK Used Car Market is almost entirely dependent on social media. Car dealers use blogs to generate traffic to their website from search engine results pages. They often put up educational content related to cars maintenance, help guides, knowledge material in order to create a brand presence which helps them in the long run. Moreover, unlike online portals and market places, social media provides an opportunity to dealers to advertise their cars for free which in turn increases their profit. Social media platforms like Facebook is also used by individuals involved in C2C purchases. Also, major dealerships use this platform to announce promotional offers and local events which increases their popularity among the masses.

Mid-age Popularity: According to the analysis, individuals in the age group 30-60 acquired almost 61% of the used car sales volume. The demand is basically fuelled by the consumers not wanting to buy new cars due to several factors, including the cost of licenses, and the decline in the vehicle’s value once they are licensed. It is to be noted that younger generation (18-30) accounted for 34% of the used car sales volume while the older generation (>60) accounted for only 5% of the sales volume.

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Increased demand for organized sector: Organised Channels accounted for 10-30% of the commission margin in 2021 with its presence being in urban & provincial areas. The main reason behind the popularity was Warranty, transfer of Ownership, Financing Options, Insurance, refurbishing Road-side Assistance. Moreover, organized dealerships also provide 3-12 months of warranty with certification.

Interest in Conventional Cars: In 2021, Conventional vehicles holds the largest share of ~97% followed by hybrid holding 2.5% and rest by Electric vehicles. However, recently in 2022, transactions for electric cars more than doubled compared with the same quarter last year, up from 6,625 transactions to 14,586 – an increase of 120%. Auto Trader, one of the leading online dealer reported that the average Used EV takes only 26 days to get sold from online portal while it takes 28 days for the average used petrol vehicle in UK to get sold as of 2021. In future, the UK used car market will expect about 30.7% growth in demand for hybrid, plug in-hybrid and pure electric cars.

Offline Sales: The sales of Used Car via network of Offline dealers has been considered among the most preferred sales channels in the country during with share of 60% during 2021. Many leading players have wide network of distributors located across the country and further planning to expand their network such as Arnold Clark, Lookers PLC and others. Arnold Clark has over ~193 dealerships in the country as of 2021. Moreover, increasing internet penetration and online trend across UK and worldwide further expected to push the overall sales of the Used Cars upwards in coming years.

Analysts at Ken Research in their latest publication, “UK Used Car Market Outlook 2026F- driven by declining production of New Vehicles in UK & affordability of used Cars due to increasing cost of living in the Country.” By Ken Research observed that the UK Used Car Rental Market is in the growing stage. Government initiatives & regulations to drive used cars are some of the factors that will promote the overall growth of the market in the upcoming years.

Key Segments Covered in the Report

By Type Vendor
Organized
Unorganized

By Type Of Vehicle
Conventional
Electric
Hybrid
By Type Of Fuel
Petrol
Diesel
Others

By Sales Channel
Online
Offline

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By Type Of Car
SUV
Crossover
Sedan
Hatchbacks
Pickup Trucks
Luxury

Key Target Audience

Banks and its Subsidiaries
NBFCs
Captive Finance Companies
Government and Institutions
Automobile Companies
Car Dealers
Government and Institutions
Existing Car Finance Companies
OEM Dealerships
New Market Entrants
Investors

Time Period Captured in the Report:

Historical Period: 2017-2021
Base Period: 2021
Forecast Period: 2022-2026F

Key Companies Covered

Major OEM and Multi-Brand Outlets

Arnold Clark Automobiles Limited
Pendragon PLC
Sytner Group Limited
Lookers plc
Vertu Motors PLC
Inchcape PLC
Available Cars Ltd
JCT 600 Ltd
Group 1 Automotive

Several Independent Dealers, Auction Houses

Online Auto Classified Portals & Marketplaces

Auto Trader Group PLC
Motorpoint Group PLC
Cazoo Ltd
Cinch Cars Limited
CarGurus UK Limited

Executive Summary
- How is Used Car Market Positioned in UK
Country Overview of Used Car Market
- UK Country Overview
- Key Demographic Indicators of UK
UK Automotive & Used Car Market Overview
- UK Automotive Market Overview
- Passenger Car Landscape in UK
- Ecosystems of Major Entities in Used Car Market
- Overview and Genesis of Used Car Market in UK
- Value Chain Analysis
- Market Size of Used Car Market in UK, 2016- 2021
Market Segmentation of Used Car Market in UK
- Market Segmentation By Vendor Type (Organized and Unorganized Vendors), 2021
- Market Segmentation By Vehicle Type (Conventional, Electric & Hybrid), 2021
- Market Segmentation By Fuel Type (Petrol, Diesel, Others), 2021
- Market Segmentation By Sales Channel (Offline and Online), 2021
- Market Segmentation By Type of Car (SUVs/Crossovers, Sedan/Hatchback, Pickup Trucks, Others), 2021
- Market Segmentation By Brand (Ford, Vauxhall, Volkswagen, BMW, Audi, Mercedes Benz, Toyota, Others), 2021
- Market Segmentation By Age of Vehicle (0-2 Years, 2-6 Years, 6-8 Years, 8+ Years), 2021
- Market Segmentation By Region (Scotland, North West, Yorkshire & the Humbert, West Midlands, East, London, South East, South West, & Others), 2021
Customer Analysis
- Market Segmentation By Customer Age (18- 30 Years, 31- 60 Years, 60+ Years), 2021
- Market Segmentation By Gender (Male & Female), 2021
Industry Analysis
- SWOT Analysis of UK Used Car Market
- Porter’s Five Forces Analysis of Used Car Market
- Growth Drivers in the UK Used Car Market
- Issues and Challenges in the UK Used Car Market
- Trends in the UK Used Car Market
- Government Rules and Regulations
- Key Legislations in the Automotive Market in the UK
Pricing Analysis
- Pricing Analysis of UK Used Car Market, 2021
Competitive Analysis
- Competitive Analysis for Major Offline Players
- Competitive Analysis of Major Online Players
- Cross Comparison of Leading Ten Offline Players in UK Used Car Market, 2021
- Cross Comparison of Leading Ten Online Players in UK Used Car Market, 2021
- Cross Comparison of Major Auction Players in UK Used Car Market, 2021
- Company-wise Sales Analysis of Major Offline Players in UK Used Car Market, 2021
- Company-wise Sales Analysis of Major Online Players in UK Used Car Market, 2021
COVID-19 Impact
- Impact of Covid-19 on UK Used Car Market
Future Outlook and Projections
- UK Used Car Market Size future forecast, 2022 – 2026F
- Future Market Segmentation By Vendor Type, 2026F
- Future Market Segmentation By Vehicle Type, 2026F
- Future Market Segmentation By Fuel Type, 2026F
- Future Market Segmentation By Sale Channel, 2026F
- Future Market Segmentation By Type of Car, 2026F
- Future Market Segmentation By Brand, 2026F
- Future Market Segmentation By Age of Vehicle, 2026F
- Future Market Segmentation By Region, 2026F
- GPS Enabled Cars
- Features of driverless Cars
Analyst Recommendations
Research Methodology
- Market Definitions
- Abbreviations Used
- Market Sizing Approach
- Consolidated Research Approach
- Sample Size Inclusion
- Research Limitations & Future Conclusion
Disclaimer
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